How can I implement a spousal support lump sum payment in Family Law Software?
You can follow these steps to implement the alimony present value (lump sum) in a software scenario. 1. Save As. Save the file under a new name for this scenario. (In File Manager, click the 3-dots menu for the file and select the option to make a copy.) 2. Find the lump sum (present value) […]
How do I enter a home sale being used to fund a downpayment?
When a home is sold it shows up on the Net Worth spreadsheet, but not in the Budget Report or Cash Flow (Net Income) reports. Otherwise, the large number would distort the cash flow picture. When you look at the Net Worth spreadsheet, you will see an asset shifting from the Real Estate Property column […]
How can I enter a real estate property that is partly rental income and partly personal use?
The software is designed to handle real estate property that is partly rental income and partly personal use. Here’s how to set that up: The sections will now be set up for this scenario. In the Real Estate expenses section, enter just the personal expenses. In the Real Estate income section, on the line for […]
How can I enter a military pension?
There is a certain amount of computation involved in determining the monthly benefit for a military pension. Click here for an overview of the military pension benefit. Once the benefit has been determined, though, the military pension may be just like any other defined benefit pension. Specifically, to the extent that the pension is a […]
For a pension evaluation, can I get a life expectancy table customized to my client?
We do not have any way of using a police or firefighter-specific life expectancy table. Nor for a smoker. Nor for a skydiver. Nor for someone who is black, white, of Japanese ancestry, etc. Nor for someone who has diabetes or heart disease. Nor for someone who is known to be in particularly good health, […]
I am going to testify in court about the pension valuation.
Here are some things you might want to be comfortable about before taking the stand: 1. Interest rate. This is a user entry, although the software will suggest a current 20-year Treasury Bill rate as of the date the pension is first entered into the software. The link below shows 20 year treasury bill rates […]
How can I change the description or label of an expense item?
1. On the screen where you enter expenses, click the party’s name at the top of the screen. This will show the expense of just that party. 2. Scroll down to the item you want to rename, and click “more info.” 3. You will see the label, with an option to overwrite it. Note that […]
How should I enter vehicle (car, truck) expenses in the software?
There are a number of ways to enter vehicles into the software, depending on the situation. Asset side: Personal Items. Most people will want to enter the current market value of the car, or an average value, as a Personal Item on the screen where you enter assets and debts. Payment side: On the payment […]
How do I enter itemized deductions?
There is no separate grouping for Itemized Deductions. They are simply entered among the Living Expenses. When you enter property taxes, charitable contributions, etc., the software knows they are itemized deductions and treats them accordingly.
Why am I not seeing any current income on the investments? Or, why am I not seeing appreciation?
To enter income on an asset, go to the “more info” screen for that asset, and enter income in its appropriate tax category. Enter annual appreciation in the field for appreciation. Current income will be taxed currently, based on the tax category you specify. If you enter net cash flow instead of a Rate (%), […]